Guideline Value for Manikandan Nagar

Manikandan Nagar guideline value

The current guideline value of Manikandan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village under the Pallavaram SRO, with a land classification of Mixed Type - II.

How the guideline value of Manikandan Nagar has changed

The guideline value for Manikandan Nagar has undergone several revisions over the years. In 2007, the guideline value was set at Rs 300 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 3,000 per sq.ft, marking a remarkable 900% increase. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The subsequent revision in 2023 brought the value back up to Rs 3,000 per sq.ft, followed by another increase to Rs 3,300 per sq.ft in 2024, which represents a 10% rise from the previous year.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 1000%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nanmangalam

Nanmangalam village comprises 139 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Manikandan Nagar's 2024 figure above that median.

• Manikandan Nagar 1 To 2 Streets: Rs 3,300 per sq.ft (2024)
• Maniammai Street: Rs 3,850 per sq.ft (2024)
• Mangambal Nagar: Rs 1,960 per sq.ft (2024)
• Medavakkam Main Road: Rs 3,850 per sq.ft (2024)
• Loganathan Street: Rs 2,750 per sq.ft (2024)
• M.G.R. Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Manikandan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manikandan Nagar?

The Sub Registrar Office that covers Manikandan Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in Nanmangalam

The guideline value plays a crucial role in the registration of property transactions in Nanmangalam. It serves as the basis for calculating stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official valuation of the property.

When a property is sold, the guideline value is used to determine the applicable charges, which can affect the overall cost of the transaction. Buyers should be aware that these values are subject to periodic revisions, which can impact future transactions.

Frequently asked questions

What is the current guideline value of Manikandan Nagar?

The current guideline value of Manikandan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 300 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, an increase of 1000% overall. The value saw fluctuations with a drop in 2017, but it has increased steadily since then.

What is the median guideline value in Nanmangalam?

The median guideline value for streets in Nanmangalam is Rs 2,750 per sq.ft, with Manikandan Nagar's value being above this median at Rs 3,300 per sq.ft.

What are the stamp duty and registration fees for properties in Manikandan Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Manikandan Nagar located?

The Sub Registrar Office for Manikandan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.